Top Biz News
Australian mineral explorer teams up with Chinese company
(Xinhua)
Updated: 2010-01-25 14:48
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Australian mineral explorer Venus Resources Ltd announced on Monday it had entered into share subscription and joint venture deals with a Chinese entity.
Venus recently expanded its exploration focus to identify world-class iron ore, precious metals, uranium and base metal exploration targets within prospective, mineral-rich orogenic belts of Western Australia.
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This will give HD Mining a stake in Venus of about 7 percent.
HD Mining will also take a 50 percent stake in Venus' Yalgoo iron ore project in Western Australia.
The deals are subject to approval by Australia's Foreign Investment Review Board.
